Index: llvm/trunk/lib/Transforms/Scalar/LICM.cpp
===================================================================
--- llvm/trunk/lib/Transforms/Scalar/LICM.cpp
+++ llvm/trunk/lib/Transforms/Scalar/LICM.cpp
@@ -471,6 +471,17 @@
     if (Behavior == FMRB_DoesNotAccessMemory)
       return true;
     if (AliasAnalysis::onlyReadsMemory(Behavior)) {
+      // A readonly argmemonly function only reads from memory pointed to by
+      // it's arguments with arbitrary offsets.  If we can prove there are no
+      // writes to this memory in the loop, we can hoist or sink.
+      if (AliasAnalysis::onlyAccessesArgPointees(Behavior)) {
+        for (Value *Op : CI->arg_operands())
+          if (Op->getType()->isPointerTy() &&
+              pointerInvalidatedByLoop(Op, MemoryLocation::UnknownSize,
+                                       AAMDNodes(), CurAST))
+            return false;
+        return true;
+      }
       // If this call only reads from memory and there are no writes to memory
       // in the loop, we can hoist or sink the call as appropriate.
       bool FoundMod = false;
Index: llvm/trunk/test/Transforms/LICM/argmemonly-call.ll
===================================================================
--- llvm/trunk/test/Transforms/LICM/argmemonly-call.ll
+++ llvm/trunk/test/Transforms/LICM/argmemonly-call.ll
@@ -0,0 +1,69 @@
+; RUN: opt -S -basicaa -licm %s | FileCheck %s
+declare i32 @foo() readonly argmemonly nounwind
+declare i32 @foo2() readonly nounwind
+declare i32 @bar(i32* %loc2) readonly argmemonly nounwind
+
+define void @test(i32* %loc) {
+; CHECK-LABEL: @test
+; CHECK: @foo
+; CHECK-LABEL: loop:
+  br label %loop
+
+loop:
+  %res = call i32 @foo()
+  store i32 %res, i32* %loc
+  br label %loop
+}
+
+; Negative test: show argmemonly is required
+define void @test_neg(i32* %loc) {
+; CHECK-LABEL: @test_neg
+; CHECK-LABEL: loop:
+; CHECK: @foo
+  br label %loop
+
+loop:
+  %res = call i32 @foo2()
+  store i32 %res, i32* %loc
+  br label %loop
+}
+
+define void @test2(i32* noalias %loc, i32* noalias %loc2) {
+; CHECK-LABEL: @test2
+; CHECK: @bar
+; CHECK-LABEL: loop:
+  br label %loop
+
+loop:
+  %res = call i32 @bar(i32* %loc2)
+  store i32 %res, i32* %loc
+  br label %loop
+}
+
+; Negative test: %might clobber gep
+define void @test3(i32* %loc) {
+; CHECK-LABEL: @test3
+; CHECK-LABEL: loop:
+; CHECK: @bar
+  br label %loop
+
+loop:
+  %res = call i32 @bar(i32* %loc)
+  %gep = getelementptr i32, i32 *%loc, i64 1000000
+  store i32 %res, i32* %gep
+  br label %loop
+}
+
+
+; Negative test: %loc might alias %loc2
+define void @test4(i32* %loc, i32* %loc2) {
+; CHECK-LABEL: @test4
+; CHECK-LABEL: loop:
+; CHECK: @bar
+  br label %loop
+
+loop:
+  %res = call i32 @bar(i32* %loc2)
+  store i32 %res, i32* %loc
+  br label %loop
+}